Mercedes sees rise in earnings in Q1, confirms 2022 guidance

04/27/2022

Less than a minute

2022.04.27 08:36

Mercedes sees rise in earnings in Q1, confirms 2022 guidance
FILE PHOTO: A Mercedes-Benz Vision AVTR concept vehicle is seen displayed during a media day for the Auto Shanghai show in Shanghai, China April 19, 2021. REUTERS/Aly Song

(Reuters) – Mercedes-Benz saw a rise in earnings before interest and taxes (EBIT) to 5.2 billion euros ($5.54 billion) in the first quarter even as deliveries fell 10%, with high prices making up for supply chain troubles.

The premium carmaker confirmed its guidance for the year, expecting an adjusted EBIT margin of 11.5 – 13% in the cars division, but warned worsening effects of the war, COVID-19 lockdowns and semiconductor shortages could alter its outlook.

($1 = 0.9391 euros)

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04/27/2022

Less than a minute